S&P/TSX composite down, U.S. stock markets also lower after Fed cuts interest rates
Written by The Canadian Press on September 18, 2024
TORONTO — Canada’s main stock index slipped on Wednesday, while U.S. stock markets also posted small losses after the U.S. Federal Reserve announced a highly anticipated outsized cut to its key interest rate.
The S&P/TSX composite index closed down 85.10 points at 23,592.60.
In New York, the Dow Jones industrial average was down 103.08 points at 41,503.10. The S&P 500 index was down 16.32 points at 5,618.26, while the Nasdaq composite was down 54.76 points at 17,573.30.
The Canadian dollar traded for 73.58 cents US compared with 73.55 cents US on Tuesday.
The November crude oil contract was down eight cents at US$69.88 per barrel and the October natural gas contract was down four cents at US$2.28 per mmBTU.
The December gold contract was up US$6.20 at US$2,598.60 an ounce and the December copper contract was up three cents at US$4.30 a pound.
This report by The Canadian Press was first published Sept. 18, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press